If marginal product is at a maximum, then marginal cost is at a minimum
a. True
b. False
Indicate whether the statement is true or false
True
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Smart cards will not much affect the demand for money if
A) the money supply is defined to include smart card balances. B) the money supply is defined to exclude smart card balances. C) the balance of the smart card is not considered to be electronic money. D) the reserves of the card issuing institution fall when the smart card is "loaded" with funds from an account the customer already has at that institution.
A transfer payment is a sum of money
a. spent by government for new goods and services. b. shifted between members of a household. c. given by government without a good or service in exchange. d. moved between companies for goods and services. e. required to pay taxes.